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ConocoPhillips' second-quarter adjusted earnings per share were $3.24, exceeding analysts' expectations of $2.88, primarily driven by higher oil prices.
The company announced a second-quarter net profit of $3.9 billion, or $3.23 per share, significantly higher than the $2 billion reported in the same period last year. The average realized oil price for the quarter was $62.33 per barrel, a 36% increase year-over-year. The company's stock price rose 1.4% in pre-market trading.
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Next: ConocoPhillips announced that CEO Ryan Lance will retire on September 1, and CFO Andy O'Brien will succeed him as CEO and join the board of directors.
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